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Repo’s – Where to find American 1 Credit Union Repo’s.

The history of American 1 Credit Union is as follows; “American 1 began as the Jackson Co-Op Federal Credit Union, a service provided to members of the Jackson Co-Op, and was founded in 1950. The Jackson Co-Op Credit Union was originally located at the local United Rubber Workers Hall 185 on a part-time basis, featuring 47 members, three full-time employees, and $580,000 in assets in its first year.

Later, the credit union purchased a small house on Chapin Street in 1951 and a vacant church on Pearl Street in 1962. Needing more office space to accommodate its growing membership, the Jackson Co-Op Credit Union bought the McCourtie dealership on Michigan Ave. in Jackson and established our current Home Office location. By 1964, Jackson Co-Op Credit Union had acquired over 5,000 members – and even sold “Co-Op appliances” until 1974. The credit union soon established branches in Battle Creek and Hillsdale, and in areas outside of Jackson.

In 1987, Jackson Cooperative Credit Union officially changed its name to American 1 Federal Credit Union. In September 2011, American 1 merged in Premier Financial Credit Union located in Clinton Township and Melvindale, bringing the total count of branches to 11. Then in October 2011, American 1 merged with Michigan Services Credit Union. With this merger, American 1 became a state chartered credit union and the new name became – American 1 Credit Union.Today American 1 provides low-cost financial services to more than 50,000 members and several hundred partner companies. American 1 has more than 140 employees and serves Jackson, Calhoun, Washtenaw, Hillsdale, Macomb, Oakland, and Wayne Counties.”

American 1 CU is a large player in the lending markets throughout the state of Michigan. From their inception they have provided solid lending services for members looking to finance cars, trucks, RV’s, motorcycles, boats, and real estate as well.

During the recent housing crisis that has struck both Michigan and the overall United States, American 1 has seen an influx of repossessions on their books. Even with prudent lending this is a reality almost all financial companies have had to deal with. American 1 Credit Union has developed a unique solution to remarket their repo cars, boats, motorcycles and other vehicles. They have designed a very customer friendly portal on their website that features these repossessions for sale to potential buyers. The benefit to the buyer is they are able to buy a vehicle from a trusted source at a substantial discount. The benefit to the credit union is the ability to both mitigate losses and turn the repossession into a secured loan product should the buyer retain financing through the credit union.

Most consumers are elated to find out how easy it is to buy a vehicle from their credit union. Not only is it a trusted seller, but there is no sales commission or pressure to buy. Interested buyers throughout Michigan can find repo vehicles including, boats, cars, RV’s, motorcycles, and occasionally real estate at American 1 CU.

If you get serious about buying a foreclosed home or repo vehicle from the credit union, you’ll want to contact a representative at American 1 Credit Union soon. Repo’s usually sell fast due to the reduced price. Keep in mind that repossessions are generally sold “as-is”. It’s a good idea to make sure you properly inspect anything you plan on buying. If you need expert advice don’t hesitate to inquire with a local mechanic or real estate appraiser to help ascertain the value of what you are planning to buy.